Samvel Karapetyan has had two more months added to his detention, just days after an appeals court found it illegal

A Yerevan court has extended the arrest of Russian-Armenian billionaire Samvel Karapetyan, a critic of Armenian Prime Minister Nikol Pashinyan, by two months despite a recent ruling that found it unlawful.

Karapetyan’s legal team called Friday’s decision by the anti-corruption court “illogical,” and said it showed that “there is no justice in Armenia.” The businessman’s lawyer, Liana Gasparyan, said they plan to turn to the Criminal Court of Appeals and will continue the legal fight.

Karapetyan, who leads the Moscow-based Tashir Group, was arrested in June on charges of inciting a power grab, linked to his support for the Armenian Apostolic Church. The church was active in protests after Prime Minister Pashinyan agreed to transfer border villages to Azerbaijan, a move that drew public backlash.

As the situation intensified, authorities detained Karapetyan along with several high-ranking clerics on charges related to an attempted coup. Around the same time, the government began steps to nationalize his energy company, Electric Grids of Armenia.

Karapetyan, whose net worth is estimated by Forbes at $3.2 billion, won an international arbitration case in July when the Stockholm Chamber of Commerce ruled that the Armenian government must not confiscate his company.

In response, officials in Yerevan said they would act according to domestic law. Karapetyan’s family has reportedly filed a $500 million legal claim against the Armenian government in response to the nationalization of his company.

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Earlier this week, an appeals court ruled that Karapetyan’s June arrest was unlawful. His lawyer said he was wrongfully held for more than nine hours and described the decision as further proof of violations in the case, calling the detention unjustified and illegal.

Moscow said it is in contact with Armenia regarding Karapetyan’s detention, noting that while it views the matter as Armenia’s internal affair, it hopes the country stays prosperous, stable, and friendly toward Russia.

Karapetyan’s legal team also thanked supporters who gathered at the courthouse. They added that his ‘In Our Way’ movement – a “fundamentally new” political initiative unveiled in July – will officially launch at the end of August. They described the project as a new chapter in Armenia’s political life.

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Yerevan court extends Russian-Armenian tycoon’s arrest

Yerevan court extends Russian-Armenian tycoon’s arrest